Senate Bill No. 2280 - Motor Vehicle Brokers

• Establishes a regulated framework for motor vehicle brokers to operate legally in North Dakota, replacing a previous outright prohibition on brokering activities.

• Requires motor vehicle brokers to provide written disclosure to buyers or lessees stating whether they receive fees from dealers, and mandates that licensed dealers remain the seller of record in all transactions.

• Allows brokers to advertise new vehicle brokering, negotiate prices and lease terms, prepare transaction documents, and accept down payments up to six percent of purchase price or $500 (whichever is greater), but prohibits them from selling vehicles, executing contracts, or displaying vehicles for sale.

• Exempts licensed motor vehicle lessors from these restrictions and allows them to continue brokering motor vehicle leases without limitation.

• Changes the penalty for violations from a class A misdemeanor to an infraction.